Back

LatinNews Daily - 21 September 2018

In brief: Venezuela

* Venezuela’s President Nicolás Maduro has announced the launch of a new ‘bio-pay’ payment system that will be implemented for the sale of petrol fuels at service stations across the country. Speaking during a nationally televised address, Maduro explained that the new payment system will be based on the use of payment cards and fingerprint reading machines to identify buyers. Maduro said that the new payment system, which will be rolled out across the country on 24 September, is part of his government’s efforts to better control the local petrol fuel market ahead of its plans to reduce the major subsidies offered by the government in a bid to shore up public finances and stem the smuggling of petrol to neighbouring countries. Maduro also said that he would soon provide more details how the new payment system is going to work and the adjustments that the government will make to the existing petrol subsidies.  

End of preview - This article contains approximately 153 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.